KMB plans to raise Rs 5000 cr

Kotak Mahindra Bank is planning to raise Rs 5000 crore by issuing bonds for its general corporate business, according to a regulatory filing from the bank. The plan comes under the Rs 50,000 crore borrowing limit approved last year. The bank said it will issue securities in the nature of unsecured, redeemable non-convertible debentures/bonds, in Indian/foreign currencies in the domestic and or overseas markets for an amount up to Rs 5000 crore, for its general corporate purposes within the overall borrowings limit of the bank on a private placement basis. The money will be raised in one or more tranches.